Kimberly-Clark, the mega-company building an $800 million manufacturing facility in Warren, is growing even larger with the announcement of a plan to acquire Kenvue, the maker of well-known health products like Tylenol, Listerine, and Neutrogena.

Kimberly-Clark Corporation, which produces personal care items such as Huggies diapers and Kleenex tissues, has reached an agreement to buy Kenvue Inc., a global consumer health company.

The deal, announced on Monday, will bring together two large American companies to create a health and wellness powerhouse with an estimated total yearly revenue of about $32 billion.

Kimberly-Clark is already a company with a presence in Ohio, where it is currently constructing an $800 million manufacturing and distribution center in Warren.

This new acquisition shows the company is looking to grow its business even more by joining Kenvue, which was recently separated from Johnson & Johnson.

Kenvue has a long list of household-name products, including the pain reliever Tylenol, the first-aid brand BAND-AID, and skincare lines like Aveeno and Neutrogena. Kimberly-Clark’s products, such as Huggies, Kleenex, and Kotex, cover different parts of personal and family care.

Leaders from both companies say the combination is a good fit because their product lines complement each other, meaning they serve different but related needs, touching consumers through every stage of life. The combined company will feature a total of ten iconic brands that each generate over a billion dollars in sales.

Leaders from both companies believe that putting these two businesses together will lead to a number of benefits. Mike Hsu, Kimberly-Clark’s Chairman and CEO, said that combining the companies will create a global leader in health and wellness. He mentioned that Kenvue is positioned uniquely between consumer-packaged goods and healthcare, which offers a great opportunity for growth.

By combining forces, the companies expect to improve how they develop and market products. Kimberly-Clark plans to use its strengths in customer partnerships and marketing to accelerate the growth of Kenvue's health portfolio.

At the same time, Kenvue's focus on science-backed innovation and its strong relationships with healthcare professionals, like doctors and dentists, will enhance the combined company’s ability to create new solutions for consumers. The companies say the partnership aims to strengthen investments in areas like research and development to better meet people’s evolving health needs.

The agreement values Kenvue at approximately $48.7 billion. Kimberly-Clark will pay Kenvue shareholders a mix of cash and shares of Kimberly-Clark stock. The deal is expected to deliver immediate value to Kenvue shareholders while also giving them a chance to benefit from the combined company's future growth.

The purchase has been approved by the Boards of Directors of both companies. However, the transaction still needs approval from the shareholders of both Kimberly-Clark and Kenvue, as well as clearance from government regulators. The companies expect the deal to be fully completed in the second half of 2026.

The combined company will continue to be led by Mike Hsu and will keep its headquarters at Kimberly-Clark's current location in Irving, Texas, while still maintaining a presence at Kenvue’s current locations. For now, both companies will continue to operate independently until the acquisition is finalized.